Global Business Software Industry

The global business software industry covers software programs used to boost and measure productivity within the business sector. The industry encompasses basic software for small businesses (like Microsoft Office and accounting software); software for medium-sized businesses (like those that deal with human resources, client relations, field services, etc.); and more in-depth applications for larger companies (like business process management and enterprise resource planning).

Key Market Segments

The global software-as-a-service (SaaS) market is forecast to record an impressive 41% yearly growth between 2008 and 2015 to exceed $4.3 billion, up from $390 million in 2008. The market is being fuelled by increasing adoption of web-based applications, and relatively low initial implementation costs as companies can opt for on-demand applications instead of purchasing the full application license. Growth is particularly strong throughout Asia Pacific, while Australia & New Zealand (ANZ) together represent the number-one regional market in Asia Pacific. Emerging markets like China and India are forecast to record strong growth over the coming years, followed by Singapore and Hong Kong.

Customer relationship management (CRM), ERP and collaboration represent the most-used applications. Over the coming years, interest is likely to continue rising for applications like e-procurement platforms, e-learning and HRM. Obstacles to market growth include lack of bandwidth and data security.

TechNavio estimates the world enterprise social software industry will record 18% yearly growth between 2010 and 2014. Market growth is being driven by rising productivity and collaboration through the use of enterprise social software.

The world security software as a service industry is expected to record 28% yearly growth between 2010 and 2014, reports TechNavio. Compliance requirements are a major driver behind this market. Slow security SaaS verticals development may impede market expansion. Key players operating in this market include: Cisco Systems, McAfee, Trend Micro and Symantec.

The global supplier relationship management software market is expected to record 8% yearly growth between 2010 and 2014, according to TechNavio. Key players operating in this market include: Epicor, Ariba, SAP and Oracle. The market is fuelled by various factors including companies’ eagerness to limit supply chain deficiencies through supplier relationship management software use. Lack of ERP capability solutions and integrated procurement present obstacles to market growth.

Global Industry Analysts estimates the global professional service automation software market will exceed $7.6 billion by 2017. The EU and the US hold the largest share of the world professional service automation software market.

Industry Leaders

Market Outlook

The global business software market is set to continue recording strong growth, fuelled by innovation. Expansion will be partly dependent on the ability of policymakers to implement harmonized privacy and data security standards. Business software is vital to production, making intellectual property infringement and illegal software use obstacles to the smooth running of the business world, necessitating policy to limit software piracy. IP protection continues to be of importance to improve technology and encourage innovation. Industry players will likely seek to work in liaison with governments to secure new commercial avenues.

“Increasing demand for smart technological solutions in the real estate sector to cater to varied preferences of real estate customers is one of the key factors driving the growth of the IT in real estate ...

The global healthcare analytics market is expected to reach USD 24.55 billion by 2021 from USD 7.39 billion in 2016, at a CAGR of 27.1% from 2016 to 2021. Major factors contributing to the growth of the ...

This IDC study outlines the worldwide ERP top 10 predictions over the next one to three years.As i-ERP applications begin to take hold, the businesses' digital transformation (DX) strategy becomes increasingly ...

This IDC study highlights the market size of the Canadian business analytics landscape and provides shares of the top vendors in the market for 2015."This is the year of the pivot, a shift in market direction ...

This IDC study is a translation of the Japanese document IDC #JPJ40590116, which presents the performance of the Japan BA software market for 2015 and the forecast from 2016 to 2020. Analyses were made ...

"In 2015, the Western European business analytics software market grew 9.7% to reach $11.3 billion, and we expect it to continue growing at a CAGR of 5.8% to the end of 2020," said Philip Carnelley, research ...